National Bank of Georgia is Regarded as a Manger of Deposit Insurance Fund as Well
Davit Lezhava, deputy finance minister has declared to TV-company Maestro, that your government will maximally prevent hard pressure around the banking sector, so insurance volume need to be within 5000 GEL (equivalent in other currency) with the first stage.
The draft bill will clearly determine the government’s commitment. However, depositories may very well be refunded through the budget in the insufficient finances in the Fund throughout the force majeure. Banking institutions demanded to spellout it avoiding the interpretations.?Lezhava noted, how the banks’ version and preliminary version announced through the government, to insure merely deposits in GEL should not be implemented. As , the EU directive? bans segregation and discrimination by currencies.
Deposit insurance system envisaged from the EU directive may very well be enacted until 2020 within the frame within the association agreement. To be aware of, 20% of total deposit market really should be insured.?Lezhava notes, that the technique are a part of 4 institutes (method to obtain liquidity, the so-called resolution of banks) of Financial Stability.?Aspect of closed publication rack raised likewise. The Board of? the Fund will decide itself to increase revenues by local market or attract it from international capital markets.